20 April 2026Markets & Economy
Copper drops as Iran tensions shift safe haven flows
Copper fell 3.2 percent from its two-month high as Iran-US tensions triggered a flight to traditional safe havens rather than industrial metals. The selloff breaks copper's six-week rally and signals that markets are pricing geopolitical escalation over supply disruption. Energy futures are absorbing the risk premium while base metals get dumped, leaving copper miners like Freeport-McMoRan down 4.8 percent in pre-market trading.
From Iran closes Hormuz again as oil hits $80